Sunday, March 7, 2010

This American Life: Scenes Closer to Home

How many hours of your life have you spent working for money?
How many hours watching TV or listening to the radio?

Inquiring Oregonian minds may enjoy spending just ONE hour listening to this great piece of journalism from Chicago Public Radio. The play by play commentary on the FDIC seizure of the Bank of Clark County is a stark reminder of how close to home/Portland the financial crisis and housing bubble have struck those we know and love.

  • Does Portland have a glut of condos? Do you know someone who owns or rents a condo?
  • Do you know someone who had deposits/loans with Bank of Clark County? Umpqua?
  • Ever shopped at a Circuit City?

And for those condo dwellers in Portland thinking "that could never happen here"...Portland will soon have many yet to be determined condo dwellers dependent on a fire hydrant for their water (hat tip to Leigh):

"The Portland Water Bureau will soon begin shutting off the water to multifamily housing buildings that have not been paying their water bills."

Shaff says that if the bill is still not paid, the bureau will send its portable water station to the building on the day the water is shut off. The station, which is used a large community events, connects to fire hydrants and offers water to the public.

“The tenants will be able to fill water bottles and pots and pans,” Shaff says. “There’ll have water to drink and cook with and flush their toilets"